NNN Lease
A triple-net lease in which the tenant pays base rent plus taxes, insurance, and common-area or operating expenses.
Last updated September 5, 2026
Under a triple-net (NNN) lease, the tenant bears property taxes, insurance, and maintenance or CAM on top of base rent. Listings that quote only base rent understate true occupancy cost. NNN does not automatically mean the tenant is responsible for roof and structure — the lease’s maintenance clauses control. Buyers should request a recent reconciliation of pass-throughs, not only the face rent.